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71 S Wacker Dr, Chicago, IL...

Andersen Tax LLC Leases 26,000 SF At 71 S. Wacker Dr, Chicago
LEASEDOffice

Andersen Tax LLC Leases 26,000 SF At 71 S. Wacker Dr, Chicago

71 S Wacker Dr, Chicago, IL, 60606

Building Size

26,000 SF

Asset Type

Office

Closing

Jan 17, 2018

AI

Located at 71 S Wacker Dr, Chicago, IL, 60606, the property asset under discussion is an iconic 48-story trophy tower acquired by Irvine Company Office Properties in 2010 for $625 million. This office building spans 26,000 square feet in Chicago's vibrant market, housing prestigious clients in various industries.

Summary of transation details:

Key individuals and companies involved in this deal include JAMS and Andersen Tax LLC. JAMS, a long-time customer at 71 S. Wacker, will expand its presence by 19,000 square feet. Andersen Tax LLC, a founding member of Andersen Global, is relocating from 222 W. Adams to take up 26,000 square feet in this prestigious office tower. Noteworthy representatives in this transaction include CBRE’s Todd Lippman and Jarrett Annenberg for JAMS, Cushman & Wakefield’s Steve Schneider for Andersen Tax, and JLL’s Brad Despot and Annie Nicolau representing The Irvine Co.

Players

Steve Schneider

Cushman & Wakefield

Broker

4 deals

Broker
AL
Andersen Tax LLCTenant

Chicago Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93